Greatland Gold PLC (AIM:GGP) Strategic and Operational Update

Gervaise Heddle, Chief Executive Officer of Greatland Gold, commented: “We are thrilled with Greatland’s progress over the last year which has taken the Company to a new level in its development. The farm-in agreement with Newcrest represents a cornerstone for Greatland on which we plan to build a large and valuable business focused on potential tier-one gold-copper projects.

Summary

· Leverage success in the Paterson region

o Build on momentum gained in Paterson region following the Company’s recent announcement of a US$65m farm-in agreement with Newcrest to advance the Havieron project

o Leverage exploration insights gained at Havieron to prioritise and accelerate exploration at key targets across Greatland’s Paterson licences

o Paterson region represents one of the most exciting regions globally for the potential discovery of tier-one gold-copper deposits as demonstrated by recent exploration results at Havieron (Greatland/Newcrest) and Winu (Rio Tinto)

o Greatland has identified multiple targets within its licences with a similar geophysical signature to Havieron and is working on prioritising those targets for 2019

o Finalising plans for exploration programmes at Black Hills (30km east of Telfer, high grade gold at surface over 800m of strike) and Scallywag (40km east of Telfer, several magnetic anomalies and elevated copper, silver and gold MMI response over 6km of strike)

· Focus on assets with tier-one, multi-cycle potential

o Capitalise on general weakness in the junior resources sector by identifying and acquiring new projects in safe jurisdictions with tier-one potential at attractive valuations

o Systematically advance existing exploration targets outside of the Paterson region which have multi-million ounce potential, and which present the opportunity to deliver significant shareholder value in the medium term

o Seek to divest those projects which do not meet the criteria described above or which don’t offer significant medium-term upside to shareholders

· Invest for growth

o Over the past 12 months, the Company has been building key corporate infrastructure for future exploration success and will continue to do so with selective new additions to its team

o Greatland recently appointed a new Exploration Manager, Michael Sawyer, who spent seven years at Oz Minerals Limited, most recently as Principal Geologist, Australia, Exploration and Growth where he was extensively involved with exploration and resource definition at Carrapatenna, one of Australia’s largest undeveloped copper deposits

o Well capitalised for the planned 2019 exploration campaign with investment for Havieron secured and approximately £4m in cash as at 31 December 2018

Gervaise Heddle, Chief Executive Officer of Greatland Gold, commented: “We are thrilled with Greatland’s progress over the last year which has taken the Company to a new level in its development. The farm-in agreement with Newcrest represents a cornerstone for Greatland on which we plan to build a large and valuable business focused on potential tier-one gold-copper projects.

“Our experience in the Paterson region and the farm-in with Newcrest at Havieron will have a positive impact on the Company on a number of fronts. First, Havieron now has the structure and capital in place to take it through feasibility study and decision to mine which releases resources which would have been committed to Havieron and enables us to focus on advancing our other key exploration targets, particularly in the Paterson region. Second, our experience has reinforced our commitment to be proactive in identifying and acquiring those projects in safe jurisdictions that have the potential to be tier-one, multi-cycle assets and which we can access at attractive valuations. Third, we now have the infrastructure and team in place to support our expanded strategy and drive the business forward to the next level of growth.

“We are determined to build Greatland into a large and successful business delivering significant returns to our shareholders and we look forward to providing updates on both Newcrest’s progress at Havieron and Greatland’s exploration efforts in the Paterson and at our other exciting projects.”

 


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